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McLaren Honda F1 Announcement

The three-generation Honda Formula One cars, 2006 Honda RA106 (L), 1988 McLaren Honda MP4/4 (C) and 1965 Honda RA272 (R), are on display in front of Honda headquarters after the press conference in Tokyo on May 16, 2013. Japanese automaker Honda said it will return to Formula One in 2015 as an engine supplier to British team McLaren in a bid to revive their championship-winning partnership. AFP PHOTO / TOSHIFUMI KITAMURATOSHIFUMI KITAMURA/AFP/Getty Images

Honda's past Fomula One cars are displayed in front of the Honda Motor Co. headquarters in Tokyo after its President Takanobu Ito held a press conference Thursday, May 16, 2013. Ito announced that Japanese automaker Honda is returning to Formula One in 2015 as an engine supplier to McLaren, recreating a partnership that was dominant in the 1980s and 1990s. Ito reversed the decision made in 2008 to pull out of the expensive sport due to the effects of the global financial crisis. The cars, are from left, Honda RA106 driven by Britain's Jenson Button, McLaren Honda MP 4/4 by the late Brazilian driver Ayrton Senna and Honda RA272 which won the team's first F1 Grand Prix. (AP Photo/Shizuo Kambayashi)

The three-generation Honda Formula One cars, (front to rear) 2006 Honda RA106, 1988 McLaren Honda MP4/4 and 1965 Honda RA272, are on display in front of Honda headquarters after the press conference in Tokyo on May 16, 2013. Japanese automaker Honda said it will return to Formula One in 2015 as an engine supplier to British team McLaren in a bid to revive their championship-winning partnership. AFP PHOTO / TOSHIFUMI KITAMURATOSHIFUMI KITAMURA/AFP/Getty Images

The three-generation Honda Formula One cars, 1965 Honda RA272 (L), 1988 McLaren Honda MP4/4 (C) and 2006 Honda RA106 (R), are on display in front of Honda headquarters after the press conference in Tokyo on May 16, 2013. Japanese automaker Honda said it will return to Formula One in 2015 as an engine supplier to British team McLaren in a bid to revive their championship-winning partnership. AFP PHOTO / TOSHIFUMI KITAMURATOSHIFUMI KITAMURA/AFP/Getty Images

The three-generation Honda Formula One cars, (front to rear)1965 Honda RA272, 1988 McLaren Honda MP4/4 and 2006 Honda RA106, are on display in front of Honda headquarters after the press conference in Tokyo on May 16, 2013. Japanese automaker Honda said it will return to Formula One in 2015 as an engine supplier to British team McLaren in a bid to revive their championship-winning partnership. AFP PHOTO / TOSHIFUMI KITAMURATOSHIFUMI KITAMURA/AFP/Getty Images

McLaren Honda MP 4/4 car which was steered by the late Brazilian Formula One driver Ayrton Senna is removed after being displayed in front of the Honda Motor Co. headquarters in Tokyo Thursday, May 16, 2013. Japanese automaker Honda is returning to Formula One in 2015 as an engine supplier to McLaren, recreating a partnership that was dominant in the 1980s and 1990s. Honda President Takanobu Ito announced the decision at a news conference on Thursday, reversing the decision made in 2008 to pull out of the expensive sport due to the effects of the global financial crisis. (AP Photo/Shizuo Kambayashi)

McLaren Honda MP 4/4 car which was steered by the late Brazilian Formula One driver Ayrton Senna is removed after being displayed in front of the Honda Motor Co. headquarters in Tokyo Thursday, May 16, 2013. Japanese automaker Honda is returning to Formula One in 2015 as an engine supplier to McLaren, recreating a partnership that was dominant in the 1980s and 1990s. Honda President Takanobu Ito announced the decision at a news conference on Thursday, reversing the decision made in 2008 to pull out of the expensive sport due to the effects of the global financial crisis. (AP Photo/Shizuo Kambayashi)

Honda Motor Co. President Takanobu Ito, right, poses with McLaren Group Ltd. CEO Martin Whitmarsh for photographers after their joint press conference in Tokyo, Thursday, May 16, 2013. Japanese automaker Honda is returning to Formula One in 2015 as an engine supplier to McLaren, recreating a partnership that was dominant in the 1980s and 1990s. Ito announced the decision at the press conference, reversing the decision made in 2008 to pull out of the expensive sport due to the effects of the global financial crisis. (AP Photo/Shizuo Kambayashi)

Honda Motor Co. President Takanobu Ito speaks during a joint press conference with McLaren Group Ltd. CEO Martin Whitmarsh at the Japanese automaker's headquarters in Tokyo, Thursday, May 16, 2013. Honda is returning to Formula One in 2015 as an engine supplier to McLaren, recreating a partnership that was dominant in the 1980s and 1990s. Ito announced the decision, reversing the decision made in 2008 to pull out of the expensive sport due to the effects of the global financial crisis. (AP Photo/Shizuo Kambayashi)

McLaren Group Ltd. CEO Martin Whitmarsh speaks during a joint press conference with Honda Motor Co. President Takanobu Ito in Tokyo, Thursday, May 16, 2013. Japanese automaker Honda is returning to Formula One in 2015 as an engine supplier to McLaren, recreating a partnership that was dominant in the 1980s and 1990s. Ito announced the decision, reversing the decision made in 2008 to pull out of the expensive sport due to the effects of the global financial crisis. (AP Photo/Shizuo Kambayashi)

Next year Honda will return to Formula One after a seven-year absence, bringing the first Japanese automaker to compete in the top-tier racing series back into the fold. But though it started in 1964 much as it ended in 2008, running its own team (much like Ferrari and Mercedes do today), its new F1 program will see it revert to engine-supplier status (like Renault did when it sold its team to Lotus).

Honda must really love Formula One racing, as evidenced by today's announcement that the Japanese automaker is returning to the world's most popular motorsport for the fifth time in its history. Honda has entered into a team partnership with McLaren to develop and manufacture power systems – the engine and energy recovery system – for the 2015 F1 season. McLaren will be in charge of chassis development and running the day-to-day operations of this newly formed team, which will be cal